13:45 - 14:45
Th-STS16
Chair:
Christine Mhundwa (Journalist, Zimbabwe)
Using Qualitative Consumer Survey Data to Track Households Consumption in Belgium
David de Antonio Liedo, (Email), Jean Palate, (Email)

The use of qualitative surveys to track macroeconomic quantities is common practice due to their timeliness. In this paper, we focus on the subset of qualitative survey questions that are addressed to consumers and discuss whether they have potential to be used in models that track consumption. Our analysis is based on the lasso method, which makes it feasible to estimate large linear regressions. Beyond its properties as a shrinkage estimator, lasso can also be used as a variable selection device and inform practitioners regarding subset of questions that could be incorporated in more sophisticated nowcasting models for consumption